Commerce Exam Past Questions and Answers | JAMB, WAEC and NECO

Commerce is a structured system for exchanging goods between buyers and sellers. It involves studying the processes and activities related to buying and selling goods and services, particularly on a large scale.

• Question 51: A cheque drawn by a bank official on the bank's deposits in another bank on a customer's instruction is known as? Options:
  A) promissary note
  B) bankdraft
  C) banker's order
  D) travellers' cheque
  Show Answer
  The correct answer is C .
• Question 52:

  Booklets containing a range of products, their uses and prices are called

  Options:
  A) Posters
  B) Handbill
  C) Catalogues
  D) Price Journal
  Show Answer
  The correct answer is C .
• Question 53: Securities on which the buyers are not issued with certificate are called? Options:
  A) authorized securities
  B) inscribed securities
  C) bearer securities
  D) registered securities
  Show Answer
  The correct answer is B .
• Question 54: When old customers stick to the old place to buy goods and services,it is known as Options:
  A) goodwil
  B) personal factor
  C) window shopping
  D) patronage
  Show Answer
  The correct answer is A .
• Question 55: Digital computer is divided into? Options:
  A) analogue, hybrid and mini
  B) super, maniframe, mini and micro
  C) mainframe, hybrid and micro
  D) super, mainframe, micro and analogue
  Show Answer
  The correct answer is A .
• Question 56:

  Use the information below to answer questions 3 and 4.

  Aboki Plc, became the insolvent and decided to wind up to meet the legitimate claims of its creditors.

  Babalawee was called in to manage the dissolution.

  After paying the debts of aboki Plc, the balance goes to?

  Options:
  A) Aboki Plc
  B) Babalawee
  C) shareholders
  D) creditors
  Show Answer
  The correct answer is C .
• Question 57: Social responsibility of business requires enterprises to Options:
  A) hold annual social parties for the public
  B) draw their workers only from the immediate environment
  C) address themselves to issues relating to the society
  D) set up social welfare centers in their areas of operation
  Show Answer
  The correct answer is C .
• Question 58: Which of the following is a traditional medium of communication used to mark festivals? Options:
  A) Palm frond
  B) Metal gong
  C) Talking drum
  D) Gum blast
  Show Answer
  The correct answer is C .
• Question 59: In product pricing, which of this element needs more consideration than others? Options:
  A) the demand for the product
  B) the demography of the buyers of the product
  C) the economic conditions in the markkets
  D) the cost of producing the product
  Show Answer
  The correct answer is D .
• Question 60: The person who undertakes any risk in insurance business is known as Options:
  A) a broker
  B) an underwriter
  C) an insurer
  D) an actuary
  Show Answer
  The correct answer is B .